Question 1 (4 points) Arident Inc. reports the following information for the first quarter of the current year: Property taxes, plant Direct labor Sales salaries Advertising costs Materials inventory, Jan 1 Materials inventory, Mar 31 Machine helpers' wages Depreciation, plant Sales Commissions Insurance, factory equipment Office administration costs $12,000 510,000 80,000 50,000 40,000 26,000 6,000 70,000 120,000 8,000 180,000 Work-in-process, Jan 1 Work-in-process, Mar 31 Leasing costs, plant Materials purchased Finished goods, Jan 1 Finished goods, Mar 31 Sales Depreciation, Office Presidents salary Office supplies Units completed 80,000 92,000 20,000 460,000 110,000 140,000 3,000,000 50,000 200,000 10,000 15,000 Determine the following for Arident Inc.: (1/2 point each) 1. Cost of DM used 2. Total Manufacturing Cost 3. Cost of Goods Manufactured 4. Cost of Goods Sold 5. Gross Margin 6. Operating Expenses 7. Net Income (Loss) (assuming a 40% tax bracket) 8. Unit Cost